Wool prices fell back this week, losing most of last week's gains, including drops of up to 60 cents a kg clean for some Merino types.

After it was rumored an extra 11,000 bales of wool would be offered nationally next week and with the Australian dollar and U.S. dollar exchange rate rising, buyers reacted to pull the Australian Wool Exchange Eastern Market Indicator down 29 cents to 1241c/kg clean.

AWEX quoted the EMI in U.S. terms as down US18 cents to 951c/kg clean.

The outcome at the end of the week was an almost complete reversal of the strong rises during the previous week. Next week's market may be a better indication of market direction.

A reminder for U.S. producers as wool is going to market, the American Sheep Industry Association added a wool calculator to the ASI Market App. The wool calculator helps a producer calculate price on a given day by entering the micron and estimated yield of the clip. It provides updated international market prices relative to the type of preparation and type of wool in the U.S. for a specific micron. It also takes into account exchange rates and converts Australian prices to U.S. dollars per pound (instead of kilos). Wool descriptions define the various preparation choices used in the United States and other relevant pricing factors such as length, strength and contamination levels that influence variance in prices for that specific micron diameter.

The ASI Market App can be downloaded for Android and iPhone users by going to the App Store.

ASI

ASI keeps sheep industry members updated on ASI activities and industry news by regularly distributing and updating various information pieces and sources.